Management summary: Research study „The Role of Responsible Ownership and Family in Privately Held Firms with Multiple Owners: Preliminary Findings from the Czech Republic“

In privately held firms, owners are a social group of people who are aware of, interact with, and influence each other. At the same time, the literature suggests that family firms behave differently than non-family firms and follow different goals. This paper introduces a research framework, sample and initial findings of the Responsible Ownership Project, which aims to contribute to our understanding of how attitudes and behaviours of owners influence the economic and non-economic outcomes of firms. The goals of the paper are to explore the role of family businesses among Czech private firms and to test whether the family plays a significant role in responsible ownership behaviours in private firms. The results suggest that family businesses play a non-negligible role in the Czech economy and that they have higher level of responsible ownership.

Target groups of stakeholders: Representatives of small and medium-sized enterprises

Citation: Hnilica, J., Uhlaner, L. M., Machek, O., Kubíček, A., Lukeš, M., Jurek, M., & Štamfestová, P. (2019). The Role of Responsible Ownership and Family in Privately Held Firms with Multiple Owners: Preliminary Findings from the Czech Republic. Central European Business Review, 8(5), 1-17.